Equinor to invest $1.1 billion in North Sea gas

Norway

STAVANGER, May 24, 2024 – Equinor has decided to invest USD 1.14 billion to further develop infrastructure in the Troll West gas province in the North Sea, the company announced on Friday.

The new investment includes eight new wells from two new templates and a new gas flowline to the Troll A platform. The first wells are scheduled to come on stream at the end of 2026 as the company seeks to accelerate production from the reservoir and maintain high gas export levels until 2030.

“This is a highly profitable project that will secure high gas production from the Troll field. The decision is important for us to fully utilise the capacity of existing infrastructure,” said Geir Tungesvik, Equinor’s executive vice-president for projects, drilling and procurement.

At its peak, the annual contribution from the new development will amount to around 7 bcm of gas.

The Troll field is located approximately 65 kilometres west of Bergen and is estimated to contain roughly 40% of total gas reserves on the Norwegian continental shelf. Equinor operates the field with a 30.58% interest.